Educational Resources

09 Jul

5 Essential Finance Tips for College Grads

You’ve worked hard to make it through the past four years, and you’ve finally graduated from college! Making your way into the “real world” doesn’t have to be as daunting as it may seem. Here are a few tips to help you prepare financially for your first year out of college.

How to Prepare Financially for Your First Year Out of College

1. Make a budget

2. Avoid debt

As much as you can, strive to stay out of debt. Make use of savings accounts, thrift stores and paying with cash. Save up in advance for large purchases. When you do need a loan, make sure you partner with a trusted institution, like a credit union!

3. Save an emergency fund

It’s generally recommended to save up between 3 and 6 months’ worth of living expenses, in case of an emergency that prevents you from working.

5. Start saving for retirement

Get started preparing your financial future with Signet Federal Credit Union. We’re here to help with savings accounts, checking accounts, retirement accounts and more, to help set you up for financial success for life!